The following data for Throwback Industries Inc relate to the payroll for the week ended December 9, 20Y8 Employee Hours Worked Hourly Rate Weekly Salary Federal Income Tax Retirement Savings Aaron 43 $70 $689 44 $105 Cobb 43 58 539 92 115 Clemente 45 64 668 44 125 DiMaggio 39 52 377 80 0 Griffey, Jr 48 64 749 08 135 Mantle $1,700 317 45 125 Robinson 38 53 387 32 135 Williams 2,100 426 24 130 Vaughn 48 64 770 08 70 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel All sales personnel are paid 1 times the regular rate for all hours in excess of 40 hours per week The social security tax rate is 6 0 , and Medicare tax is 1 5 of each employees annual earnings The next payroll check to be used is No 901 Required 1 Prepare a payroll register for Throwback Industries Inc for the week ended December 9, 20Y8 Assume the normal working hours in a week are 40 hours Enter amounts as positive numbers and round your intermediate calculations and final answers to the nearest whole cent (two decimal places) 2 Journalize the entry to record the payroll for the week If required, round your answers to two decimal places Refer to the Chart of Accounts for exact wording of account titles Chart of Accounts CHART OF ACCOUNTS Throwback Industries General Ledger ASSETS 110 Cash 111 Accounts Receivable 112 Interest Receivable 113 Notes Receivable 115 Merchandise Inventory 116 Supplies 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation Building 125 Office Equipment 126 Accumulated Depreciation Office Equipment LIABILITIES 210 Accounts Payable 213 Interest Payable 214 Notes Payable 215 Salaries Payable 216 Social Security Tax Payable 217 Medicare Tax Payable 218 Employees Federal Income Tax Payable 221 Retirement Savings Deductions Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Office Salaries Expense 521 Sales Salaries Expense 524 Depreciation Expense Building 525 Delivery Expense 526 Repairs Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense Office Equipment 533 Insurance Expense 534 Supplies Expense 535 Payroll Tax Expense 538 Cash Short and Over 539 Product Warranty Expense 540 Miscellaneous Expense 710 Interest Expense Payroll Register Shaded cells have feedback 1 Prepare a payroll register for Throwback Industries Inc for the week ended December 9, 20Y8 Assume the normal working hours in a week are 40 hours Enter amounts as positive numbers and round your intermediate calculations and final answers to the nearest whole cent (two decimal places) Score 209 315 Payroll for Week Ending December 9, 20Y8 1 Earnings Earnings Earnings Deductions Deductions Deductions Deductions Deductions Paid Paid Account Debited Account Debited 2 Employee Total Hours Regular Overtime Total Social Security Tax Medicare Tax Federal Income Tax Retirement Savings Total Net Pay Ck No Sales Salaries Expense Office Salaries Expense 3 Aaron 43 00 $689 44 $105 00 901 4 Cobb 43 00 539 92 115 00 902 5 Clemente 45 00 668 44 125 00 903 6 DiMaggio 39 00 377 80 904 7 Griffey, Jr 48 00 749 08 135 00 905 8 Mantle 317 45 125 00 906 9 Robinson 38 00 387 32 135 00 907 10 Williams 426 24 130 00 908 11 Vaughn 48 00 770 08 70 00 909 12 $4,925 77 $940 00 Points 49 76 75 Journal Shaded cells have feedback 2 Journalize the entry to record the payroll for the week If required, round your answers to two decimal places Refer to the Chart of Accounts for exact wording of account titles How does grading work PAGE 1 JOURNAL ACCOUNTING EQUATION Score 77 85 DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 6 7

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The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8: Employee Hours Worked Hourly Rate Weekly Salary

The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 20Y8:

Employee	Hours Worked	Hourly Rate	Weekly Salary	Federal Income Tax	Retirement Savings
Aaron	43	$70		$689.44	$105
Cobb	43	58		539.92	115
Clemente	45	64		668.44	125
DiMaggio	39	52		377.80	0
Griffey, Jr.	48	64		749.08	135
Mantle			$1,700	317.45	125
Robinson	38	53		387.32	135
Williams			2,100	426.24	130
Vaughn	48	64		770.08	70

Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1 times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0%, and Medicare tax is 1.5% of each employees annual earnings. The next payroll check to be used is No. 901.

	Required:
1.	Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers and round your intermediate calculations and final answers to the nearest whole cent (two decimal places).
2.	Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. Refer to the Chart of Accounts for exact wording of account titles.

Chart of Accounts

CHART OF ACCOUNTS

Throwback Industries

General Ledger

	ASSETS
110	Cash
111	Accounts Receivable
112	Interest Receivable
113	Notes Receivable
115	Merchandise Inventory
116	Supplies
118	Prepaid Insurance
120	Land
123	Building
124	Accumulated Depreciation-Building
125	Office Equipment
126	Accumulated Depreciation-Office Equipment

	LIABILITIES
210	Accounts Payable
213	Interest Payable
214	Notes Payable
215	Salaries Payable
216	Social Security Tax Payable
217	Medicare Tax Payable
218	Employees Federal Income Tax Payable
221	Retirement Savings Deductions Payable
224	Federal Unemployment Tax Payable
225	State Unemployment Tax Payable

	EQUITY
310	Owner, Capital
311	Owner, Drawing
312	Income Summary

	REVENUE
410	Sales
610	Interest Revenue

	EXPENSES
510	Cost of Merchandise Sold
520	Office Salaries Expense
521	Sales Salaries Expense
524	Depreciation Expense-Building
525	Delivery Expense
526	Repairs Expense
529	Selling Expenses
531	Rent Expense
532	Depreciation Expense-Office Equipment
533	Insurance Expense
534	Supplies Expense
535	Payroll Tax Expense
538	Cash Short and Over
539	Product Warranty Expense
540	Miscellaneous Expense
710	Interest Expense

Payroll Register

Shaded cells have feedback.

1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Assume the normal working hours in a week are 40 hours. Enter amounts as positive numbers and round your intermediate calculations and final answers to the nearest whole cent (two decimal places).

Score: 209/315

Payroll for Week Ending December 9, 20Y8

Earnings

Deductions

Paid

Account Debited

Employee

Total Hours

Regular

Overtime

Total

Social Security Tax

Medicare Tax

Federal Income Tax

Retirement Savings

Total

Net Pay

Ck. No.

Sales Salaries Expense

Office Salaries Expense

Aaron

43.00

$689.44

$105.00

#901

Cobb

43.00

539.92

115.00

#902

Clemente

45.00

668.44

125.00

#903

DiMaggio

39.00

377.80

#904

Griffey, Jr.

48.00

749.08

135.00

#905

Mantle

317.45

125.00

#906

Robinson

38.00

387.32

135.00

#907

Williams

426.24

130.00

#908

Vaughn

48.00

770.08

70.00

#909

$4,925.77

$940.00

Points:

49.76 / 75

Journal

Shaded cells have feedback.

2. Journalize the entry to record the payroll for the week. If required, round your answers to two decimal places. Refer to the Chart of Accounts for exact wording of account titles.

How does grading work?

PAGE 1

JOURNAL

ACCOUNTING EQUATION

Score: 77/85